Morocco: Crowdfunding closes financing gap for wind project

French renewables developer InnoVent has taken its Oualidia wind plant to financial close and started construction despite having no long-term power purchase agreement. It has overcome the hurdles that have prevented many private sector projects developed under renewable energy law 13-09 from advancing by deploying secondhand equipment to keep down costs, and by crowdfunding part of the debt finance.According to data posted on the French crowdfunding website Lendosphere, InnoVent is already building the 35MW Oualidia wind plant (originally conceived as two 18MW plants).